Carbon Removal and Storage Pioneers Climeworks Seek Hong Kong Investment
Investment Landscape in Carbon Removal
Carbon removal initiatives by Climeworks are experiencing a surge in interest from Hong Kong investors, with discussions centered on substantial opportunities that span between US$2 billion and US$3 billion in potential funding. Co-founder Christoph Gebald emphasizes the need for investors aligned with the vision of creating a groundbreaking industry over the next twenty years.
Climeworks' Carbon Capture Vision
- Climeworks operates the largest carbon capture and storage facility in the world, located in Iceland, with an annual capture capacity of 2,000 tonnes.
- Future projects, including a 10,000-tonne facility in Iceland and a 200,000-tonne facility in Louisiana, signal Climeworks' ambitious plans.
- By 2030, the company aims to reach 2 million tonnes of annual carbon capture, further escalating to 1 billion tonnes by 2050.
Investor Engagement in Carbon Credits
Firms like Morgan Stanley, JPMorgan Chase, and UBS have committed to carbon removal purchases, reflecting a shift towards sustainable business practices. Science Based Targets Initiative (SBTi) is advocating for the consideration of carbon removal credits in corporate emissions reductions, which could stimulate a broader market for carbon credits.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.